Excessive 2007 public deficit…

Economy and Finance Minister Giorgos Alogoskoufis (c) gestures yesterday at a news conference, during which he suggested that there is a possibility the Greek economy could come under the supervision of the European Union. ‘Greece is not on the front line but all options are open, since there is great uncertainty,’ he said as he presented the results of a recent Ecofin-Eurogroup meeting. European Economy and Monetary Commissioner Joaquin Almunia said earlier this week that Greece will be sent a warning letter in January for its excessive 2007 public deficit but that no decision had been taken regarding supervision.

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